According to the U.S. Energy Information Administration’s (EIA) latest short term energy outlook (STEO), which was released on April 10, the EIA expects total U.S. petroleum products consumption to increase in 2025 and 2026.
Crude oil prices extended their decline today as traders remained fixated on demand and the impact of the tariff war between the U.S. and China on its future prospects.
At the time of writing, Brent crude was trading at $65.41 per barrel, with West Texas Intermediate at $61.63 per barrel, both down from opening.
Curious Minds Corner
Besides fuel, what surprising everyday item is made with petroleum?
Chewing gum often contains food-grade petroleum waxes or polymers derived from oil.